Global automotive sensor market
DUBLIN, Feb. 9, 2024 (GLOBE NEWSWIRE) — The “Global Automotive Sensors Market – Global Industry Size, Share, Trends, Opportunities, and Forecast, 2018-2028” report has been added. ResearchAndMarkets.com Recruitment.
Registering an impressive compound annual growth rate (CAGR) of 14.40% from 2022 to 2028, the market is on a solid trajectory with the integration of sophisticated sensor systems in modern vehicles.
Rapid advancements in automotive technology, rising demand for electric vehicles, and stringent safety standards are driving significant growth in the global automotive sensors market
Demand for sensors surges due to rise of self-driving and electric vehicles
The automotive sensor market is experiencing significant growth due to the introduction of self-driving and electric vehicles. These next-generation vehicles incorporate countless sensors to ensure safe and efficient operation, and the demand for cutting-edge sensor technology is rapidly increasing. Sensors are critical to enabling a variety of functions essential to collision avoidance, adaptive cruise control, and self-driving functions.
Strict safety regulations drive market expansion
With vehicle safety and environmental concerns gaining global attention, regulators are tightening vehicle standards to ensure further road safety and reduced carbon emissions. In response to these stringent regulations, advanced driver assistance systems (ADAS) equipped with in-vehicle sensors are becoming increasingly popular, driving the market towards a sustainable future.
Market challenges: high costs and cybersecurity concerns
Despite optimistic growth prospects, the market faces obstacles such as high cost of sensor technology and potential cybersecurity threats. Manufacturers are overcoming these challenges by investing in cost-effective production methods and robust cybersecurity measures to ensure the safe operation of sensor-dependent vehicles.
Key factors driving the automotive sensors market at the global level
Growing demand for advanced driver assistance systems (ADAS): The ever-increasing need for improved vehicle safety and user convenience is accelerating the adoption of ADAS and, in this context, the demand for advanced sensors that form the backbone of these systems. is rapidly increasing.
Popularization of electric vehicles (EV):Global efforts to combat climate change are driving the transition to environmentally friendly electric vehicles, which require specialized sensors for battery management and performance optimization. This is spurring the growth of the sensor market.
Adoption of strict regulatory standards: Governments around the world are imposing strict safety standards to protect passengers and reduce road fatalities, and demand for automotive sensors that facilitate compliance with these standards is rapidly increasing. I am.
Consumer desire for advanced connectivity and comfort: Today's consumers demand vehicles with advanced connectivity and comfort features, and there is a growing market for sensors that provide an enhanced in-car experience through infotainment systems, climate control, and smart connectivity options. Masu.
Emerging trends shaping the automotive sensor landscape
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Integrating LiDAR into autonomous vehicles: LiDAR technology's ability to render accurate 3D environment mapping makes its integration essential for the development of safe autonomous vehicles.
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Artificial intelligence and machine learning in sensor systems: The fusion of AI and sensor technology is making vehicles more intelligent, influencing the rise of adaptive ADAS and self-driving technology.
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Increase in sensor applications in electric vehicles (EVs): The electric revolution in the automotive sector has given rise to the development of sensor technologies specifically tailored to meet the operational demands of EVs.
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Advances in connectivity and V2X communications capabilities: Enhanced communication networks based on robust sensor interfaces are transforming vehicle connectivity and ushering in a new era of vehicle-everything interaction.
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Innovations in health and wellness monitoring: The automotive industry is gravitating towards in-vehicle health monitoring systems that utilize sensors to promote driver and passenger safety and well-being.
Regional insights reflect market diversity and potential
Geographical analysis of the global automotive sensors market shows a tapestry of regional variations. While the North American region is driving the adoption of automotive sensor technology due to strict regulations, the Asia-Pacific region, led by China and Japan, is experiencing rapid market growth due to increased production capacity and the growing popularity of intelligent vehicles. Europe's established automotive industry also continues to play a role in driving market growth.
Segment analysis to dig into market trends
A comprehensive segment analysis provides insight into automotive sensor types and applications, revealing their importance across powertrain systems, body electronics, and vehicle security systems for different vehicle types. Expanding market scope delves into the performance of sensors in passenger cars and commercial vehicles, highlighting the far-reaching impact of sensor technology across the automotive spectrum.
In summary, the global automotive sensors market is characterized by innovation, growth, unwavering focus on safety, efficiency, and sustainability.
Key attributes:
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report attributes |
detail |
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number of pages |
185 |
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Forecast period |
2023-2028 |
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Estimated market value in 2023 (USD) |
$28.6 billion |
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Projected market value to 2028 (USD) |
$63.64 billion |
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compound annual growth rate |
14.4% |
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Target area |
global |
competitive environment
Company Profile: Detailed analysis of the key players present in the global Automotive Sensors market.
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Denso Corporation
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Infineon Technologies AG
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Robert Bosch GmbH
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Texas Instruments Co., Ltd.
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Sensata Technologies Holding PLC
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Aptiv PLC (Delphi Automobile)
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CTS Co., Ltd.
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Maxim Integrated Products Co., Ltd.
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NXP Semiconductors NV
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Analog Devices Corporation
Report scope:
Global automotive sensor market, by sensor type:
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oxygen sensor
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pressure sensor
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Temperature sensor
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image sensor
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speed sensor
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other
Global automotive sensor market, by application:
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Power train
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body electronics
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chassis
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Telematics
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others
Global automotive sensors market, by vehicle type:
Global automotive sensors market by region:
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North America
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Europe
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south america
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middle east and africa
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Asia Pacific
For more information about this report, please visit https://www.researchandmarkets.com/r/gmfiek.
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